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is the incumbent president that puts him in a position of power. all through u.s. history incumbents have usually had the advanta advantage. obama campaigned on his achievements. health care reform, ended the war in iraq, decided to pull back in afghanistan and killed osama bin laden. he took the lead in managing the disaster. that was a winning move. obama also found support among the middle class, the biggest group of american voters. he said he would end tax cuts for the wealthy and give everyone access to health care. >> i guess the big question is what will the president's next four years look like? >> along with his main domestic challenge, the economy, he'll also have to face challenges abroad. iran and north korea are two nations his administration will need to address. he'll continue to pressure them to stop their nuclear development. but at the same time president barack obama will have to be very careful to avoid military conflicts. he knows very well that most americans are already wary after the longest wars in u.s. history in iran and afghanistan. >> you mentioned part of this quest
a possible recession if the deal on taxes is not reached. investors continued to worry if the u.s. will avoid the dreaded fiscal cliff, let's not point out the most previous minutes. plus retail cannot escape hurricane sandy. sending sales numbers down about 1%. a 4% rise in profits, jumping as much as 32% right now. staples looking good after having higher on all kinds of news. check out what else is soaring today. finally getting an earnings report that people like better-than-expected earnings after the bell yesterday, expected optimistic guidance. the chairman and ceo, 24 hours since those numbers came out, we will ask him if he investors should be expecting more numbers like today and what does he think about the fiscal cliff. what ideas does he have the president right now. and why we dropped 50 points farther from where we were already. down about 78 points, fell 122 down, now it does not look good. why? >> why? i thought maybe you would say something positive. i think we are just dealing with the aftermath of the election. this is not unexpected. it is the same old rhetoric, the same
, so whether the u.s. down there or italy and spain here in the periphery, 4.7%, 6%, remarkable there, level for spain even today as the country's banks are being more fully examined in light of the national examination plans. the dollar/yen pulling back about half a percent to 8167. let's get to deirdre bolton from singapore. hi, deirdre. >> hi, kelly, how are you? and it's morris, by the way. but i'm flattered that you call me bolton. in china and hong kong, it was all about, what else, the fiscal cliff. those comments from the senate majority leader harry reid overnight really sparked some jitters in this session today, so we have red across the board. the shanghai composite, it is well and truly below that 2011 level, shedding another .9 of a percent. the hang seng was feeling some of that pressure from chinese stocks and shedding .6 of a percent. it was the mainland banks that were the culprit. they didn't fare as badly if the mainland. some capital requirement rules are going to be implemented that are raising concerns about loans and the ability of these major banks to give out
. permanent military professor at the u.s. naval academy. what does that title mean. >> guest: well, we represent the permanent military professors, a hybrid, a joining of the professor officer corps and professor and the professional educators here at the naval academy. i spent the first half of a naval career flying aircraft for the u.s. navy, and about ten years ago made the transition to academia, where the navy provided an outstanding opportunity to go back to graduate school and get a specialty in a geographic part of the world where i specialize in middle eastern history. >> host: and now an author. "the politics and security of the gulf" is the numb of your book. that's kind of a big topic. >> guest: it is. it's part of the world where the united states has been involved in three hot wars in the past generation, the iran-iraq war, desert shield, desert storm, and operation iraqi freedom. it's a big topic, and it needs to be discussed, and investigated, which is part of the reason why we took on this topic. >> host: in your book, where do you begin talking about u.s. involvement
she and the professional educators year aircraft for the u.s. navy in 10 years ago made the transition to academia where the provided the outstanding opportunity for graduate school to have a specialty in a geographic part of the world where i specialize in middle eastern history. >>host: allen author "the politics and security of the >>guest: it is. the part of the world with united states has been involved in the iran-iraq war, desert shield, desert storm and operation in iraqi freedom. it is a big topic and it needs to be discussed and investigated. >>host: where do you begin talking about u.s. involvement? >>guest: the u.s. involvement in the valleys goes much further back. we specifically look at the persian and gulf even though they sent some ships it is really world for to the united states and military get involved in a big way. surprisingly it does not have to do with the oil. world war ii marked the entry of the united states and its military to provide a secure pathway for supplies to the beleaguered soviet russian allies in their quest to defeat the germans.
here. the u.s. allegatielections and redskins lost. >> we will mention the redskins indicator, but it's true whether the u.s., china, greece, eurozone itself would make for a big week, but combine them all together, in fact it's no wonder that markets are a little unnerved. >> coming up today, plenty to get through. we're at singapore where hundyui shares are down. >> and here in london, uk pmi data will be out. the question whether it will follow an upward trend. >> and china preparing for the once in a decade political handover. we'll take a lower look at the new leadership. >> when the redskins win or lose, it has predicted the top winner since 1980. there has been a notable expossession of 1984. >> although gore did win the popular vote but not the electoral college. >> in 2000. >> that's right. >> the all-important football -- i should say american football indicator here. it points towards a romney victory. >> besides all that, plenty corporate news. hsbcs has set aside an additional $800 million in the third quarter to deal with the u.s. anti-money laundering probe. that brings
, that trade officials see challenges ahead. most recently, over solar panels. the u.s. has approved steep trade tariffs, a move officials here say could backfire and cost american companies this market. >> translator: someone asked me are you in a trading war with the united states? i said no. i hope we can sit down and discuss and try our best not to get involved in trade war. but i must say when others tackle businesses, i have to protect our businesses. >> policymakers also attempted to ease concerns about a brewing debt crisis here. >> translator: the bad loans have been on the rise this year, mostly due to the difficulties in management of some industries. but the overall bank as a quality stable and the risk is under control. ratio almost the same as that at the beginning of the year, far lower of the world's major banks. >> regulators and bank executives said that chinese banks have spread the loans across several different sectors including steel and solar panels help to go mitigate the risk, however there is still widespread concerns that overcapacity in several of those industri
to u.s. leaders negotiating over the so- called fiscal cliff about the serious financial impact looming on the horizon. that's where we begin this morning. how confident are you about the state of the u.s. economy? what steps are you taking to prepare for the potential impact if the u.s. goes off the fiscal cliff? give us a call this morning. you can also catch up with us on all your favorite social media sites, twitter or facebook. or e-mail us. thismorning to you on wednesday, november 21. we are talking about federal reserve chairman ben bernanke's comments yesterday about the fiscal cliff, and getting your thoughts on bthe u.s. economy. and this headline -- also, in the financial times -- to tell little bit more about ben bernanke's , and sister day we turn to david clarke of "politico," their financial services editor. thanks for joining us. guest: thanks for having me. host: what is making the most waves from his speech? guest: in the past he has warned that congress and the president's path to take care of the fiscal cliff. yesterday he said it is not simply doing it but how they
soared on cyber monday. and all bets are off. prediction market entrade says it can no longer accept u.s. customers as market regulators say its trades aren't legal. shanghai composite closed below 2,000 for the first time in three years. it comes at a time when plenty have been talking up chinese growth prospects for next year. so we'll get into that more later. but 1991 is the closing level. this the main one to watch across asia. the nikkei did manage to continue it rally adding about 0.4% as the yen weakens on comments this morning. forex, the dollar-yen one to watch, 82.19 is the level there. the aussie dollar doing a little bit abouter despite that weak number on the shanghai composite. sterling is flat. we'll get into that more later. and euro-dollar just barely higher today, we did see it rallying over the 1.30 mark last night. as we look at crude rallying adding a third of a percent. brent about a quarter of a percent. copper, we're adding 0.2%. 354 bucks on that contract. the real foe you can as we continue to examine whether china's economy is fundamentally hanging in there, c
in the u.s. yesterday. take a look at the bond wall here of course we have an italian auction coming up later and italy's ten year, below 4.5% this morning. so price rising. that yield falling. spain also benefiting. that yield down to 5.2%. bunds creeping back up to 1.4% level. let's key in on currency. the aussie dollar despite the broader risk-on attitude a weaker. dollar-yen moving higher 82.13. and the nikkei is adding to its string of gains throughout the month. euro-dollar rebounding off yesterday's trading session to add 0.1%. let's check in on how the asia trading session went overnight and for more, deidre wong morris joins us from singapore. >> well, it was a very good session over here, as well. headline driven. but a good session on the back of that optimism for fiscal cliff talk. all except this glaring spot of red. shanghai composite finishing lower for yet another session. it keeps falling further and further. doesn't seem that there is anything that policymakers or investors can do to lift sentiment in this market. different story in the hang seng, rebounding up about 1
after good gains yesterday. following strong moves in the u.s., as well. cac 40 down half a percent. weighed town by the moody's downgrade, although expected. and ibex done around 0.4%. french debt market, yields are up to 2.1%. treasuries slightly higher, but still below 6%. ten year bund yields slightly lower. so france is trading with the peripheral in that sense. euro-dollar, 1.2794 is where we stand, dipping slightly on on the back of the french downgrade. dollar-yen 81.26, but the yen has been down at acceseven mont lows. aussie dollar slightly weaker against the u.s. dollar. rba minutes suggesting that their policymakers consider further monetary easing may be appropriate. still to come, we'll be in athens and brussels. euro group reportedly close to signing off on the next tranche aid. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. get on e-trade. set up a real plan. frank!
in the latest incident are real. as with the target. unmanned u.s. predator surveillance graft. the incident was real. though the timing is perhaps, perhaps suspect. one week ago. six days before the u.s. election. national security correspondent jennifer griffin is following this breaking story from the pentagon. >> reporter: at 4:50 a.m. november 1, days before the u.s. presidential election, two iranian su-25 frog foot fighter jets like these intercepted and fired twice upon an unmanned, unarmed u.s. m-2-1 predator drone over the persian gulf. it's the first time the iranians ever fired on a u.s. drone. the shots missed on both attempted. iran's fighter pilots briefly pursued the drone that landed safely at an undisclosed location. >> incident occurred over international waters. 16 nautical miles off the coastline. aircraft was never in iranian air space. it was always flying in international air space. the internationally recognized territorial limit is 12 nautical miles off the coast. we never entered the 12 nautical mile limit. >> asked whether the incident was an act of war, the penta
. >> reporter: absolutely, lynn. this has been the big story outside the u.s. today. we've seen coverage all over the television with foreign correspondence stations not just in washington and florida, but all over the u.s. extensive coverage in newspapers, websites. virtually every foreign news organization has on its website a prominent section devoted to the u.s. election. that's tough to imagine in the u.s., that we would pay that kind of attention to another country's political contest. in fact, "the times" in london said their u.s. election section is now their most clicked aside from their home page and the views of it have gone up about 500% since august. part of the reason for all of this global attention is that so many people in so many other countries are looking for a catalyst for change in their own nations coming from a strong decision in the u.s. tonight there will be watch parties all over the world lasting all night long. lynn? >> all right, michelle kosinski for us in london. >>> right now vice president joe biden is in line along with his wife jill and son beau. he is the
relations. we'll make relations with the united states more reliable. the japan/u.s. alliance has been weakened under the democratic party government. >> abe says the liberal democratic party is well prepared for the election. he says it has reviewed its principles and streamlined its policies. >>> yoshihiko noda is the third prime minister to lead japan since the democratic party took power. he's been in the job for a little more than a year. here's a look at some of the challenges he faced. >> reporter: yoshihiko noda replaced the prime minister who lost support over his handling of the fukushima power plant accident. overseas media focused on the fact that noda was japan's sixth prime minister in five years and questioned whether he could form a stable government. >> translator: i'm determined to do everything possible to move politics forward using a down-to-earth approach. >> reporter: noda identified three top priorities for his administration -- reconstruction from the march, 2011 earthquake and tsunami, containment of the fukushima nuclear accident, and fiscal restructuring and
the coaches and even leaks because many of the links i work with our code. they are not governed by u.s.a. football for pop warner. these guys can't come down. scott can't come until every coach in the united states of america this is the way you need to do it. so what we try to do at the league had to share this as an example that this is what you're fighting with the aggressors level is number one, coach kerri campbell and i went to a lake. we said this. you know i want to do? we played at the highest level, so there is a model standard. authority out there. the nfl authority set a standard for youth coaches in america. the problem is they don't embrace the changes because it's all about winning. win at all costs mentality. winning is good, but nobody remembers years from now. what matters is the effects of the game. so what we tried to do was, okay, if you guys want to improve safety and you want to improve coming you know, making sure coaches are responsiblefor me being accountable and credible, then implement the leagues are just like the nfl pa. they protect the west players. they
.1 million barrels a day. impact of hurricane sandy in the u.s., reduced, as well. crude oil supply dipped to a nine month low. so the demand being cut, patrick armstrong is where us, managing partner at investment managers. but that's clearly because of global weakness -- well, economic weakness in europe and hurricane impact. >> definitely. year over year, oil demand is up. we've had very weak economy in europe. not much growth in the united states. but i think that's the trend we'll be playing out for the next few years. >> oil 110 at the moment. is that a fair price? >> there's premium built in because of geopolitical risks. i think premium is probably justifiable. you look at wti at $23 discount to where breptd is. that's not sustainable in the long time, but given inventory levels, that will stay. >> do you keep your trade on oil? >> we have neutral position, but we're short the front month. respe respect. we make money by rolling the contracts the other way around. we're long oil in the 12 months forward rolling in to the 13th month and we end up with little more oil with that strat
that has brought down cia director david petraeus is down staring general john allen, the top u.s. commander in afghanistan. the pentagon says the fbi has uncovered thousands of potentially inappropriate emails between allen and jill kelley, the woman who complained of harassment from petraeus' lover, paula broadwell. her complaint to the fbi led to the discovery of broadwell and petraeus's relationship, prompting his resignation on friday. allen succeeded petraeus in afghanistan last year. the pentagon says allen will remain the u.s. commander in afghanistan for now, but the plans to nominate him to become nato's supreme allied commander are on hold pending the outcome of an investigation. on monday night, fbi agents continued their probe by searching broadwell's north carolina home. as the obama administration faces turmoil with two top military leaders, reports are continuing to emerge of the potential makeup of its second term cabinet. according to the washington post, massachusetts senator and former presidential candidate john kerry has emerged as a potential candidate to be
it all down. >>> wall street may have the blues u.s. debt is mounting and tax hikes could be around corner. but screw the inevitable. there are still plenty of ways to make money. we'll tell you exactly how to keep raking it in. >>> the "oracle of omaha" make as new gamble. where warren buffett sees the next cash cow and how you can follow in his footsteps. even when they say it's not it is still always about money. melissa: all right, first let's take a look at the day's market headlines. stocks tumble yet again following the worst seion of the year yesterday despite better than eepected u.s. jobless claims and u.s. export data. rising concerns over the fiscal cliff shook investors yet again the dow closed down 121 points. >>> disney shares are sliding after-hours the company reported fiscal fourth quarter earnings a short time ago. disney coming in a little light on revenue while meeting profit expectations. >>> shares of whole foods took a nearly 6% hit. the company warned superstorm sandy is taking a bite out of sales and will hurt earnings. >>> to our top story. check out this
with some of her toughest republican critics and answer questions about the september 11th attack on the u.s. consulate in benghazi. rice will sit down with senators john mccain, lindsey graham, and kelly ayotte. >> that should be fun. >> that could be really awkward. they all accuse her of misleading the country in her initial account of the attack. in recent days, senator mccain has softened his criticism, and rice insists that she was relying on talking points from the intelligence community. last night senator graham rejected her defense but says he's open to today's meeting. >> she asked to meet with us, and i will listen to what she has to say about her role in benghazi, but i can tell you this. the more i know about benghazi, the more upset i am that the consulate was even open on september 11th. when you look at the history and the reporting coming out of libya about the dangers, it should never have been open or heavily reinforced. after the attack, i think the story we were told about a spontaneous event caused by video where a mob turned into a riot is less credible than ever. >>
points for both sides in the fiscal cliff negotiations but especially the republicans, making sure the u.s. does not become the next greece. tonight, economically crippled country is getting another infusion of the bail-out money. senior foreign affairs correspondent amy kellogg has the story from london. >> they were peaceful but this was a protest. these greeks weary of seeing tensions shrink -- pensions shrink and jobs grow were not happy about the decision to grant them more in bail-out money. they know the feet will be held ever closer to the austerity fire. >> the long installment is not for the workers or the people. but the banks. for those drinking our blood. nothing can change. >> greece's new prime minister welcomed the deal to keep greece afloat, the feisty opposition leader decried it as hollow fix. >> it does not include greece or a plan for greece. >> in a marathon session in brussels, they nibbled around the essentials of the massive debt problem. making adjustments sort of forgiving greece's debt. that might have been political poison for the european officials planning to
services sector in europe. the city of europe someone of the e.u.'s biggest assets. and it play as crucial role in fueling the whole of the european union economy. so we will fight for rules which deliver open markets, competitiveness and new market access opportunities globally. and yes, while we support the need for greater integration within the euro zone including through a banking union, make no mistake, we will never allow banking union to compromise our fair access to the single market. so modern industrial strategy must utilize our greatest strength and that includes our financial services. second, we must support all sectors of the economy where we have a comparative advantage and that includes defense. now, i understand why some people are a bit squeamish about ministers flying off around the world to help our defense industry do deals abroad. but let me say this -- britain has the most rigorous arms export licensing regime in the whole world. and that is how it will stay. but there is a more fundamental point here. every country in our world has a right to self-defense. and you
might think. nbc's michelle kosinski is live in london for morton that. good morning. >> the u.s. election is a top story today outside the u.s. with coverage all over television, newspapers and websites. extremely thorough and extensive. in fact, virtually every foreign news organization has on its website a prom gent section devoted to the u.s. election. that's tough for americans to imagine that we would pay that much attention to another country's political contest. the times here in london tells us that their u.s. election section is now their most clicked outside of their home page and views of it have gone up about 500% since august. how much does this matter? yesterday, across europe markets declined amid the uncertainty over how the u.s. election would turn out. part of the reason for all this attention is that so many people in so many countries are looking for a catalyst for change in their own nations through what happens in the u.s. tonight around the world there will be live watch parties. looking at coverage that stations are carrying live from the u.s. and that wi
of led zeppelin. we talked to jimmy page about their special honor in the u.s. >>> welcome to our viewers on public television in america and around the globe. we begin with dramatic developments in the middle east. palestinian militants have fired a rocket all the way to jerusalem for the first time in decades. they have also targeted tel aviv. israel has risen but by calling up reserve troops and stepping up its bombardment of gaza. in a moment, a report from the gaza strip were there more civilian casualties today. first, we have this report from tel aviv. >> today, and the heart of israel, sirens scream for people to take cover from rocket fire. the past 24 hours have come as quite a shock. even for the million israelis living close to gaza, fear is part of their daily lives, the mortar and rocket fire have increased dramatically. one young couple went out to look at the rocket damage to their house and the warning of another attack sent them running. fire also interrupted a funeral of one of three israelis killed yesterday. premature babies had to be moved elsewhere. israelis are ner
and on the web. you think about it, virtually every major publication outside of the u.s. has a section on its website that is devoted to this election. that's hard for us in the states to have any comparison to. i mean, we just don't devote that kind of attention in general to another country's political contest. in fact, the times here in london told us that the u.s. election subject is the most clicked in the past month other than their home page and views of it have increased by 500% since august. across the world tonight there will be watch parties. that's pretty impressive considering that when polls close in america it will be well after midnight. here it will be just about midnight. especially at u.s. embassies people will be watching. one british analyst told us it is possible as many brits will be watching these results as watched the results of their own elections. lynn. >> michelle, interesting. thanks so much. >>> the presidential election isn't the only thing happening today. there are some very close sen 2345i9 races happening across the country. >> reporter: the power struggle
about the u.s. economy. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> hello. welcome to today's "worldwide exchange". >> 40 unions in 23 countries. that's the strikes that are planned across europe today. so if you thought there couldn't be any coordination, there is coordination. >> how are we going to be affected? >> you know, air travel, surprisingly, they have had to have a lot of cancelling due to strikes. >> we're fully at our jobs. there's two hours of it today. let's remind you exactly what's coming up. we'll have updates from beijing throughout the program as the new generation takes the first step towards leadership. >> and we're in london. talk to the ceo of wpp, martin sorrel. >> we discuss japanese banks. >> and the latest on cisco from silicon valley as the network equipment maker warns of slowing growth this quarter and some falling demand in europe. >> more than 2,000 delegates have cast their votes for china's new central committee, marking the end of the week long communist party. the world will have to wait one more day
. first off, dmon straights prompted the u.s. to shut down the embassy there. the embassy was not under fire but clashes between protesters and riot police clogged streets around the complex. this chaos is going on for days as demonstrators threatened the new islamic president morsi with a second revolution. >>> and then there's this. lawmakers dominated by islamists are now rushing to draft a new constitution. this move is seen by some of morsi's critics as an effort by the muslim brotherhood to hijack the constitution. and amid all of this, president morsi is on the cover of "time" magazine. "time" calls him the most important man in the middle east and boasts an exclusive interview credited with getting israel and gaza to end fighting. let's bring in the "time" bureau chief and got the interview and joins us from tel aviv. thank you for joining us and why is morsi the most important man in the middle east? >> well, for a couple of reasons. i mean, one he is just sort of central to, you know, the sort of what they call a new sunni axis of influence. sort of powerful country is counter
for a possible ground invasion. we're live in gaza. >>> and coming to america. the u.s., a beacon of freedom and hope for people all around the world. the dream of citizenship about to be fulfilled from these people. they come from different lands with different stories to tell, but they will all become americans live today, friday, november 16th, 2012. >>> from nbc news, this is "today" with matt lauer and savannah guthrie live from studio 1a in rockefeller plaza. >>> and good morning. welcome to "today" on a friday morning. i'm matt lauer. >> good morning, everyone. i'm savannah guthrie. as we look at statue of liberty live, we are going to witness something really remarkable today on our plaza, and if there's a dry eye left when this ceremony is over i'll be amazed. 30 people who have worked so hard to become u.s. citizens, a wait that sometimes was measured in decades will become u.s. citizens on our plaza. >> so many of us take it for granted. those people out on the plaza do not take it for granted. their family members are here to witness it as well. it's amazing. >> one minute famili
the changes could mean. >>> welcome back. take a look at the u.s. equity futures. dow and s&p coming off their worst week since july 4th. you can see they are indicated higher, but maybe not the bounce you might have expected. the dow up 23. >> squawk sports new, texans beating the bears 13-6. foster finished with 102 yards rush and touchdown catch and texans intercepted cutler twice before knocking him out with a concussion. >> no comment about the jets? >> they lost. >> andrew, here's the deal. >> did you see rex ryan -- >> the giants won the super bowl last year. a lot of people have told him he's fat and he should shut up. he's not fat anymore. she just shut up. but sanchez, you brush up against him and the ball goes flying out. >> they've been going back and forth. >> when the giants are the defending the super bowl champions and they got their butts kicked by the bengals and the other game unbelievable is johnny football. texas a and m and alabama, that was unbelievable. alabama number one. texas a and m just joined the sec. and this guy johnny football, you just can't believe the
: in part with a hashtag. my 2k. the white house is saying if the u.s. goes off the fiscal cliff it will cost the average middle class family $2,200 a year and they want middle class social media users, twitter users who don't want that to happen to get online right now. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress. right them an email. post it on their nice book walls. you can tweet it using the hashtag, my 2k. >> reporter: as you heard at the top of the show treasury secretary timothy geithner is going to be on the hill today. one of his meetings will be with senate majority leader mitch mcconnell who just said, we are eager to hear the administration's specific plans for protecting jobs and growth by reducing the national debt, reducing washington spending and preventing a tax hike on every american taxpayer. so, bill, the two sides are talking to each other but it does sound li
: it is a busy news morning. the u.s. is officially getting involved in the mideast fighting. secretary of state hillary clinton is en route to meet with prime minister benjamin netanyahu as the u.s. embassy attacked this morning. we have leland on the ground. we'll go to washington with the latest details on secretary clinton's mission. >> good morning. israel and terrorist leaders of gaza exchange fire president obama is dispatching secretary clinton to the middle east it is a hastedly arranged departure from cambodia where she is involved in the ongoing summit. she plans to visit israel and ramallah and egypt because u.s. considers hamas a terrorist consideration and prohibits contact it is relying on egypt and turk yeqatar to deliver its message to the hamas leadership. >> on the trip secretary clinton will emphasize the united states interest in a peaceful out come that protects and enhances israel's security and outcome to lead to improved relations to the civilians in gaza and reopen the path for israelies and palestinians so they can live in peace and security. >> some doubt secretary cl
mentioned the port of oaklandnd six percent of all u.s. goods. that is the union's point to cause disruption and hurt the economy. and i tell you, they have every right to strike but the employers have the rht to kick the ass to the curve. a job is a mutually agreeable trade. employers offering a job and if they don't like hit the brickings. >> do you think it is bador the economy over all. we are in a fiscal cliff and rough waters here and now this to deal with? >> i think it could be bad for the econy. they have the merchandise and this is not going to affect thanksgiving shopping season and christmas most likely. but look at history. 1948 we had five million workers on strike and it crippled the economy. the taft hartley act brought back the boom. that is it breaking of the unions and created the boom that eisenhower had. if these union heads go forward. this could hurt the economy. >> tracey, you made the point about the retailers, it could hurt the consumer spending as well the economy needs that right now. and economist looking to the holiday shopping season to get big numbers out. >>
to the audience in the u.s., to put them in perspective of what's going on here. >> and you see it is a very fluid situation. we're dealing with correspondents in the field. this is exactly where everything is funneled to. the arab league is convening in cairo to discuss the situation in gaza. this desk will be live all throughout the morning and afternoon to bring you the latest information, so when we have breaking news, we'll toss it back up to you. >> we appreciate that, nick. thank you. and let's take you back to the israeli side of the border. israeli tanks and troops certainly taking up positions there, trying to get us back to fred. what are you seeing there in terms of military activity? >> reporter: hi, randi. there's a lot of military activity on this side of the border. on the one hand, you have the air strikes that the israeli air force is conducting there over gaza. sara was talking about it just a little bit. as she was talking, there was actually a bomb being dropped on gaza that we could see here from our position. i'd say we're about four, maybe five kilometers away from the gaza
talks about his ideas for averting the fiscal cliff, followed by a look at u.s. oil production and a new report that the international energy agency about the country's energy production by 2020. later, we will talk about how the federal bureau of investigation and the cyber- based crimes. clark sought foreign policy scholars will discuss the relationship of the u.s. with china. we will hear from the u.s. ambassador to china. our live coverage begins tomorrow at 9:15 on c-span2. >> the mindset of the world, was into the mid 1990's that wire line access would -- with stuff on poles or in the ground was the key to understanding telecommunications. the intriguing part of the wireless story is how very few people inside the industry - back- that is why the report came out the way it did. it must not just the fcc who did not understand the potential of the wireless. it was the entire industry. except for a few visionaries who were regarded as kooks. turned out to be the case was the hope that some people had that you could have a robustly competitive fixed line access industry, where a half d
an additional burden. >>> u.s. defense secretary leon panetta is urging congress to strike a deal before the end of the year. that's to avoid a fiscal cliff which may result in a significant reduction in defense spending. the fiscal cliff is a term used to illustrate drastic fiscal tightening if congress fails to reach an agreement by year's end. such a situation is feared to trigger a plunge in the economy. panetta warned that defense spending will be subject to drastic cuts if lawmakers failed to reach a consensus. >> the worst thing that could happen from my perspective is that they just kick the can down the road. all that would wind up doing is continuing to present a shadow over the defense department and for that matter, the rest of government. >> the defense department is already planning to reduce its budget by about $500 billion over the coming ten years. panetta has voiced concern that further cuts could undermine barack obama's new defense strategy that lays more emphasis on the asia pacific region. >>> japanese officials are scratching their heads about how to deal with sluggish tra
surpassed japan in gross domestic product to become the world's second largest economy behind the u.s. the chinese government with its growing military started to flex its muscles in the region. it wrangled with asian nations over control of islands in the south china sea and east china sea. >> reporter: the congress opened thursday morning in beijing's great hall of the people. it's about a ten-minute drive from our studios. i went there to watch it unfold. 2,300 delegates from across the country gathered inside the great hall of the people. >> reporter: president hu jintao is now in the midst of giving a work report on past achievements and future goals. >> translator: the communist party has united all ethnic groups across the country and led the people. we have also transformed the old, underdeveloped china into a new china that is prospering every day, but we have to realize there is room for improvement in our work. the unbalance of development and the lack of sustainability are still evident. there are many obstacles -- the disparity between urban and rural areas is wide, the g
. the largest japanese banking group by market value mitsubishi u.s.a. financial group posted a net income of about $3.6 billion in the april to september period. that's nearly 60% down in yen terms from a year earlier. one of the reasons for the decline was the losses from sale of stock holdings. mizuho financial group reported a 28% decline in net income. it was at $2.3 billion. the group says the decline is due to the drop in the value of stocks held. meanwhile, the financial group had a net income game at $4.1 billion. the good results were due to a contribution to earnings from the complete buyout of a consumer finance firm. >>> toyota motors says it will recall over 1.5 million cars in japan as there are separate defects in the steering wheel and hybrid fuel system. it will be the automaker's largest ever recall in the country. toyota says a design error for a shaft part was found in nine models including prius and wish made between august 2000 and last december. the car maker says the steering wheel could malfunction if the driver repeatedly turns it to the maximum. the recall also
complained to fbi agents about being harassed by paula broadwell, david petraeus's biography. a senior u.s. military official says jill kelly is involved in wounded warrior fund-raising in tampa, is married, she and her husband are close family friends. officials say petraeus's downfall started when kelly complained to the fbi that she was receiving intimidated e-mails from broadwell. law enforcement and multiple u.s. officials tell nbc news that those e-mails led to the discovery of others between general petraeus and broadwell and were indicative of an extramarital affair. a senior law enforcement official told nbc news that fbi agents interviewed general petraeus in late october and concluded there was no criminal violation. today, members of congress are asking why the fbi did not inform them or the president sooner. >> we received no advanced notice. it was like a lightning bolt. i mean, this is something that could have had an effect on national security. i think we should have been told. there is a way to do it. >> reporter: this comes as we are learning more about the days leading
week. >>> the pentagon says iranian fighter jets shot at but missed is u.s. drone that was flying surveillance mission off the iranian coast. the u.s. says that drone was over international waters when it was targeted. penalty gone spokesperson says iran was intentionally trying to shoot down the drone. >>> seven navy s.e.a.l.s have been reprimanded and docked two months' pay for helping make the new game medal of honor. they provided classified information to the publisher electronic arts. they paid the s.e.a.l.s to work on the war fighter game. all serve were accuse -- seven were accused of showing their official combat gear. they'll be ineligible for promotion and essentially ends their careers. >>> some disturbing details from the case of a u.s. soldier accused of participating in a nighttime massacre in afghanistan. 16 afghan civilians were killed last march during the incident. yesterday an army dna expert says robert bales had the blood on him. christine said the blood of more people could be discovered if more testing were performed. the hearing in seattle will help determ
can while protecting our relationship with the u.s. with president obama, we are embarking on an unprecedented exercise an effort at further integration and selling of the border. this is important for both countries. i not agreebama and i on everything. these countries a share so many in common -- an economy and larger value system. we share security needs and we share security threats. when you have a relationship that close, it cannot help but be good. it has been good. i look for to four more years of working with president obama. >> you just returned from asia. you seem dead like them in a little jet lag. >> president obama is in asia. his first trip when he was elected was here in ottawa. his first trip for his reelection was asia. you both you asia as important both of you are committed to enhancing free trade. you are looking at 50 trade deals. i wanted to ask you -- when our organization was founded 25 years ago, we were founded to be a proponent of free trade. there are not enough voices on either side of the border that point out the benefits. that is why we star
about doing this with yemen, too which is of course in an area of the u.s. and saudi arabia to cooperate a lot on counterterrorism, on the gcc initiative to get the power not only the thing is how do you get this desperately poor country running out of everything all but once given the chance to get back on its feet. we are still working together on that. the big issues you to brief the next secretary on our iran sanctions and syria. the imposition of the current set of sanctions wouldn't have been possible without such a deal last november but if the sanctions led to iran losing up to or a little more than half of its oil exports, with saudi arabia be willing to step in and make those exports and i think with a caveat that we probably can't make up all of iran's exports whether it be a mechanism to totally shut them down because that would take the saudi production right up and leave no spare capacity which tends to be a driver for the higher oil prices. so, as the sanctions have come about, we had some bumps in the oil market particularly in the spring in anticipation, but as they've b
. u.s. equity futures should be interesting to look at temperature basically on hold. not sure what to do after yesterday. we'll talk more about the economy in a minute with david rosenburg. it was pretty clear yesterday that depending on how you wanted to spin it, could you say how do you do for another four years. i don't remember any euro news in the last six months no matter how bad it was, we didn't get it free handle. so there's more to it than just europe. >> it was the fiscal cliff, but also the financials got hit so hard. if it had been romney, the cliff would be less of a deal because they would stepped all of them. so now we know and we lettered it first hand yesterday. boehner said we're open to tax increase, but part of a bigger plan that involves spending cuts. dove did a bungee -- >> worst thing i ever did. >> but it goes down and then right back up. >> the worst part is you feel like you're connected on something, but don't. it's a free fall until the very he said and then he start to feel like i'm connected to something and it throws being back into the air. >> my q
no longer hailed as a hero? >>> good morning, everyone, as we come on the air, more breaking news. the u.s. on high alert right now over a possible war escalating in the middle east. overnight, three israelis killed by rockets from the gaza strip. israeli warplanes are hitting dozens of sites in the gaza. all of that follows a dramatic assassination. this is still escalating at this hour. you see the assassination right there. this could be dangerous. >>> another story we're following closer to home, how did a woman steal $50 million to fuel her passion for racehorses? and how did she finally get caught? we'll explain it all. >>> and it was a routine cheerleading stunt gone horribly wrong at an nba game. now, new details on -- >> no, no, no. >> -- a cheerleader's condition. >> oh! >> and people are asking now, is this sport just too dangerous? >> lots of injuries. >>> but first, let's get right to the cia sex scandal and the breaking news overnight about the veteran fbi agent who took the first investigative steps that could lead to the downfall of cia director david petraeus. brian ross h
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